156: Lessons from Losing a Million Dollars with Joshua Wilson

Episode Description

In this episode of the Modern Man Podcast, host Ted speaks with Joshua Wilson, a serial entrepreneur and business acquisition strategist. They discuss Joshua's journey from being a real estate addict to successfully acquiring and transforming businesses

Takeaways

Joshua Wilson transitioned from real estate to mergers and acquisitions.
Being equity-rich but cash-poor can be a challenging situation.
Diversification is crucial for financial stability.
Taking calculated risks can lead to significant rewards.
Mental roadblocks often prevent individuals from pursuing opportunities.
Due diligence is essential when acquiring a business.
Identifying growth potential in businesses is key to successful acquisitions.
Entrepreneurship requires resilience and the ability to learn from failures.
Networking and mentorship can provide valuable insights and opportunities.
The universe often presents opportunities when you are open to receiving them. Don't do restaurants, just too low margins.
Niche down as much as you can.
Immediate cash flow from acquisitions is a key advantage.
Aligning with investors is crucial for success.
There is no such thing as a passive business.
Creating multiple income streams is essential for financial freedom.
Diversification is necessary to avoid being cash poor.
Investing in businesses can yield better returns than real estate.
Understanding the operational side of business is vital for success.
Parenthood has shaped my perspective on financial independence.

Chapters

00:18 - Introduction to the Modern Man Podcast

01:38 - From Real Estate to Mergers and Acquisitions

03:21 - Understanding Equity Rich and Cash Poor

06:20 - The Importance of Diversification in Business

09:08 - Taking Calculated Risks in Entrepreneurship

12:22 - The Journey of an Entrepreneur: Lessons Learned

15:16 - Overcoming Mental Roadblocks and Fear

18:28 - The Role of Due Diligence in Business Acquisition

21:23 - Identifying Profitable Business Opportunities

24:05 - Niche Down for Success

27:18 - Immediate Cash Flow from Acquisitions

30:25 - Investing with Limited Cash

33:31 - The Reality of Business Ownership

38:58 - Creating Multiple Income Streams

40:52 - Long-Term Vision in M&A

42:45 - Life Lessons from Parenthood

Wilson’s Links

Website: https://jwenterprise.co/

Instagram: https://www.instagram.com/therealjoshwilson

Facebook: https://www.facebook.com/realjwilson/

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More about The Modern Man Podcast

“The Modern Man” is a series focused on discussing the challenges and obstacles men face in today’s society. It is an open forum of discussion where thoughts, strategies and ideas of men living a happy and fulfilled life are explored. The Modern Man aims to create a community of men not only sharing and connecting on a deeper level, but also exploring how to thrive and live a happy and fulfilled life. This is done through intentional conversations strategically aimed at issues that men face in today’s society.